Morocco Proposes Bold Framework for Climate Finance Reform in Africa
Leila Benali, Minister of Energy Transition spoke during the opening ministerial session on Wednesday, outlining a three-part approach rooted in governance, innovation, and fairness.
She addressed one of the continent's most persistent challenges: access to climate finance. 'We cannot address Africa's climate needs without financial systems that place sustainability at their core,' Benali told the high-level gathering.
She explained that Morocco's vision rests on integrating climate finance into national planning, tightening coordination across institutions, and pushing for a shift in the global financial order.
The country has already put forward a national strategy for climate finance. It serves as both a roadmap and a commitment, aiming to align public spending with green goals and bring private investment into sustainable sectors.
Benali said this strategy builds on Morocco's broader ambitions under its sustainable development and low-carbon plans.
But finance alone, she argued, cannot succeed without strong institutions. The second axis of Morocco's vision calls for better coordination between environment and finance ministries.
Morocco has created a national commission on climate change and biodiversity, including a working group focused specifically on climate finance. The Ministry of Finance has also started factoring climate risks into its annual debt analysis.
Benali called other financial tools such as debt-for-climate swaps, green bonds, and carbon markets underdeveloped alternatives for the continent.
Morocco, with the advantage of growing financial complexity and regulatory roots, can be a regional portal to connect African economies with international capital, particularly between European and Atlantic markets.
The third proposal item was the global playing field. The international finance architecture is not yet level for the Global South countries, Benali believes. She recalled the 2023 IMF and World Bank annual meetings in Marrakech as a turning point, where momentum mounted to overhaul global finance for the benefit of Africa.
In Nairobi, and in the presence of Kenyan President William Ruto, Benali reaffirmed Morocco's readiness to collaborate across the continent. 'We stand with African countries for a future that is resilient, self-determined, and fair,' she said.
As part of this effort, Morocco plans to launch an African task force on green and sustainable finance. The goal is to create an inclusive and practical framework that serves African needs and strengthens the region's ability to meet its environmental and climate objectives. Tags: Africa climateclimate financeMoroccosustainability
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